Housesinparker's BlogHousesInParker.com gave the Preston Hill Neighborhood 1st Place as a seller’s market. Preston Hill is located approx. 1 mile south of Mainstreet in Parker. It has a total of 140 homes built from 1997-2001.
To see stats and more information go to:
http://www.housesinparker.com/Preston_Hill.php
Also visit my website at : http://facebook.com/KeyHomeTeamColorado
HouseInParker Video Blog – May 23, 2011
To look at detailed Monthly Stats for period ending April 30, 2011 go to:
http://www.HousesinParker.com/Reports/CurrentParkerMonthlyReport.pdf
To receive the report 101 Tips to Sell Home for more money, in less time and with greater peace of mind go to Key Home Team Facebook page: It is on Welcome page (on left side) if it does not come up on initial page.
Most of the news you hear on the radio or TV relates to macro real estate markets; what is happening throughout the nation. For most of you living in the city or suburbs of Denver, this number has very little value. Even the numbers for the Denver Metro Area may or may not indicate what is happening in your neighborhood or more specifically with your own home value. These micro markets are more likely to affect you personally. The best way to find out what is happening with homes like yours is to have an Appraisal or Custom Market Analysis (CMA) competed by a competent Appraiser or Real Estate Agent.
When selling or buying a home it is important to examine each of these four indicators to see what these micro-markets are doing. For example, let’s see what was happening in the Parker North Subdivision at the end of March 2011.
The area as a whole was a buyers market, due to the fact that the smaller homes had depreciated 10% and the number of sales were down. The good news is that the medium homes are actually doing quite well. They saw an appreciation of 4.8% and the number of sales doubled. Not only that, but the DOM fell 58% and there is only 3 Months of Inventory. This is easy to see on the map: the medium homes are all green and the small homes all red.
Visit: http://www.housesinparker.com/Reports/ParkerNorthTrends.pdf to see the detail stats of Parker North.
Don’t sit on the sidelines and miss out on buying a bargain home, especially when the micro market shows your size home has just become a seller’s market allowing you to sell your home quickly and for the more money.
Go to Parker Home Trends to find information about your neighborhood.
If you would like a FREE Custom Market Analysis for your home, email info@HousesInParker.com:
The Key Home Team has carefully researched all represented subdivisions and has determined the best Parker neighborhoods for selling and buying. For March 2011; Saddlebrook Farms is the Number 1 best neighborhood for selling a home. Even though most Parker neighborhoods are considered to be in a buyer’s market, Saddlebrook is in a good seller’s market.
The Saddlebrook stats speak for themselves. Median home prices are higher than any time in the past (except 2008 and 2006) and are only down ½% and 2% respectively from those years. This means that Saddlebrook homeowners should be able to sell for more than their purchase price (unless they purchased their property in 06 or 08). The average days on market (DOM), for this area is 65 days which is down by 60% from the previous year. Appreciation from the previous year is up 1.4% and Months of Inventory is 5.3. The number of sales is three times what it was the year before. One factor working in Sadlebrooks favor is that there are currently no bank owned, HUD or short sale properties on the market in the subdivision.
Now is a very good time to put a Saddlebrook home on the market, especially if that home has over 2000 finished square feet since it would have no competition right now. Since 2/3 of the neighborhoods in Parker are in a buyer’s market, a buyer can do well on the buy side as well.
I believe the reason Saddlebrook has done well this year is because it is an appealing neighborhood and is conveniently located for easy access. It is also part of the prestigious Canterberry Crossing Master HOA but is on the lower end of the price scale. It is also less expensive than the majority of homes in the neighboring subdivision, Villages of Parker.
The lesson to be learned here is that even though an area as a whole may be depressed; that doesn’t mean that subdivisions within that area are down. Despite bad news on overall market conditions, it could actually be a great time to put your house on the market.
To see the Saddlebrook Farm stats, visit
http://www.housesinparker.com/Saddlebrook.php and
http://www.housesinparker.com/Reports/SaddlebrookTrends.pdf
What’s happening in your neighborhood Real Estate Market? Find out with Amazing new Trends Report!
FOR IMMEDIATE RELEASE:
CONTACT:
David Sachleben
of The Key Home Team at Broker’s Guild Cherry Creek, Ltd.
Voice Phone Number: 303-909-0545
FAX Number: 303-731-4038
E-mail Address: Dave@HouseInParker.com
Website URL: www.HousesInParker.com
HousesInParker.com’s Trends at a Glance – Grand Opening!
Parker, Colorado, March 31, 2011
The new web site: HousesInParker.com, featuring an innovative report called “Trends at a Glance” is now available online. The trends tool, in colorful map form, is packed with information designed to help sellers and buyers make smart, well informed decisions when putting a house on the market or searching for a home.
Dave Sachleben, of The Key Home Team at Brokers Guild, says the report has been met with great enthusiasm among community leaders and business people in Parker. “The beauty of the map is that whether a person is looking for a general overview of the Parker Real Estate market or detailed information on a specific neighborhood, they will find exactly what they need in a simple user friendly format.
Using Key Home Team’s Four Key Leading Indicators, the report shows whether the micro-markets (neighborhoods or homes catagorized by size) are in a buyer’s market or seller’s market. The report contains some unexpected results which may surprise readers.Currently, the report analyzes more than 20 Parker Neighborhoods but will expand to include many more. The web site itself showcases over 11 subdivisons with extensive information on location, HOA’s, schools, key Phone Numbers, pictures, and more.
For more information, please visit our web site at www.HousesInParker.com or call/e-mail: Dave Sachleben at 303-909-0545 or Dave@HousesInParker.com.
http://www.housesinparker.com/Reports/ParkerStatsMap.pdf
#1 Green means good news for the seller/ bad news for the buyer and red means good news for the buyer/ bad news for the seller.
#2 A green line around a subdivision means the sales prices are trending up. A red line means sales prices are trending down
#3 The four symbol boxes above show the fourindicators we track for our reports describing the subdivision as a whole:
Remember: for sellers, green boxes are positive while red boxes are negative and the opposite goes for buyers. The white box means there was no significant change.
#4 We also track the trends by homes size. This is important information as an area may be trending downward as a whole while at the same time; the medium and small homes could be selling quite well and appreciating.
that are between 2000 and 2999 finished square feet. (This example shows the home is no significant change in sales price but slightly up and trending down sale numbers.)
This symbol represents small sized homes that are less than 2000 finished square feet. (This example shows the home is trending down in Sales Price and has had no significant change in Sales number of Sales but is slightly down .) Note: No arrow indicates that numbers are exactly the same
To see the actual numbers and more detailed information for a specific area; just click on a subdivision name and you will receive a comprehensive report:
Section #1 shows overall trends of subdivision from first period to second period. The periods will normally be running totals for a year. Report will show Average Sales Price, Total Sales for those periods. In additions it will show # of bank own sales, # of HUD Sales and Average Days on Market (DOM) and Months of Inventory (MOI):
Section #2 shows the same stats but broken down by large, medium and small homes:
Trends |
Sales $ |
Sales # |
DOM |
MOI |
|---|---|---|---|---|
Green |
6% or Greater |
30% or Greater |
-25% or less |
less than 3 |
Lt. Green |
4 to 5.9% |
20 to 29.9% |
-15 to 24.9% |
3 to 3.99 |
Xtra Lt. Green |
1 to 3.9% |
10 to 19.9% |
-5 to 14.9% |
4 to 4.99 |
White |
-1 to +0.9% |
-10 to 9.9% |
5 to -4.9% |
5 to 7.99 |
Lt. Pink |
-3 to -0.9% |
-20 to +-9.9% |
15 to 4.9% |
8 to 8.99 |
Pink |
-6 to -2.9% |
-30 to -199% |
25 to 14.9% |
9 to 9.99 |
Red |
- 6% or less |
- 30% or less |
25 or more |
over 10 |
Grade is assigned by Key Home Team using its own algorithm. The S indicates it is a seller’s market and where a B indicates it is a buyer’s market. The larger the number the stronger the seller’s or buyer’s market it is.
Thirty six homes in Hidden River have gone under contract already this year; thirty three of which have closed. That is four more homes than last year and we haven’t even finished the year yet. The other encouraging news is that the total days on market decreased to 67 this year from 72 in 2009. The not so good news is that home values have fallen another 2.24% so far this year; so it doesn’t appear we have hit bottom yet. Home values have decreased a total 10.59% since the beginning of 2007.
As of today, there are 17 homes for sale in the Hidden River market. These homes range in price from $214,000 to $379,900 with the average price being $277,568. Based on this information, it looks like prices will fall a little more in the next few months. Please note that the current active properties are slightly smaller than what has sold previously this year which partially accounts for the lower prices. If you purchased your home before 2004 you should be able to sell it for more.
If you are interested in seeing the homes that are currently on the market … go to “Click here to see all current listings” on http://www.housesinparker.com/Hidden_River.php. You can also see the current stats.
Hidden River consists of approximately 963 homes and is located east of S. Parker Road, mostly south of Tallman and east and north of Hilltop Road. (See map on above link.) It is only 5 minutes from Walmart, Target, Home Depot, Kohl’s etc. and only 5 minutes from downtown Parker. It is a pool community with Olympic size pool plus tennis, basketball and volley ball courts. Miles of walking/running trails and numerous playgrounds are also available. The homes were built in the 90’s and are well maintained. One of the friendliest neighborhoods around; it’s not uncommon to find groups of neighbors enjoying one other’s company for impromptu bar-b-que’s or just hanging out and talking.
From RISMEDIA, June 14, 2010–
First time home buyers have a lot to consider this summer when making the decision to rent or buy a home: interest rates are at all-time lows, there’s still plenty of housing stock and prices are at or near their lowest in years.
Still, deciding whether to buy a home or rent an apartment can be a complicated decision. How do you know what’s right for you? Potential buyers should ask themselves several key questions before making this important decision.
1. What will monthly costs be, and can I afford the payments?
Keeping mortgage payments under 30 percent of your monthly income is a good rule of thumb. If you can’t keep mortgage payments below that, you may be better off renting for awhile.
2. What other debt do I have?
Total rent or mortgage payments plus credit obligations should not exceed 35 to 40 percent of monthly income.
3. What is my credit score? Can I qualify for a good interest rate?
A high credit score indicates strong creditworthiness, and that qualifies you for better interest rates on a mortgage. Maxing out on your credit lines and paying bills late will lower your credit score. The impact of a credit score on interest rates can be significant. For instance, a borrower with a score of 760 could pay nearly two percentage points less in interest on a mortgage than someone with a score of 620. Lower interest rates also mean lower monthly payments. If your credit score is low, you may want to delay buying a home until you can improve your score.
4. How much will taxes, monthly maintenance, or other fees cost?
Owning a home means you’ll have to pay real estate taxes and other costs like insurance and maintenance. On the other hand, owning a home brings big tax savings at the end of the year. As a renter, the owner pays those costs for you.
5. How many years will I stay here? Generally, the longer you plan to live someplace, the more it makes sense to buy. You’ll build equity in your house and its value is likely to increase over the years.
With record sales in April, it is apparent that the tax credit was successful in stimulating home sales this year. “April was such a frenzy; the numbers were inflated by the tax credits,” said independent broker Gary Bauer. “Realtors were working up to midnight on April 30 to get homes placed under contract. Buyers were making multiple offers on homes and sellers were dealing with multiple offers,”
Consumers jumped at the chance to take advantage of the federal home buying tax credits. In April, a whopping 178 homes were placed under contract in Parker Colorado, based on Metrolist data. That was an increase of 39% from April 2009
After the tax credit expired in May, buyers wrote contracts on only 102 homes in the Parker area; a 43 percent drop from April. Homes under contact were also down 26 percent from May 2009, (when 137 homes were placed under contract) and down 32 percent from May 2008 (when under contract homes numbered 150).
In April, 2010 median price for Parker homes fell slightly from 2009 median price (0.5%) but increased by 3.2% from April 2008. The May Median price did fall 2.3% from the April’s median price; however the median price in May of 2010 was 3% higher than May of 2010.
It makes sense that both the number of contracts and median price went down in May for the following reasons: Many people who were thinking of buying a home in April through June moved up the date to take advantage of the tax credit. As a result of the increase in competition, many homes were getting multiple offers which inflated prices. I had a buyer who put off looking at houses in April because multiple offers were pushing up prices even over the $8000 benefit buyers would reap. She kept losing to people desperate to cash in on the tax credit. Since she waited, she ended up getting a great deal in May, which may have saved her over $12,000.
As of this writing, June appears to be doing about the same as May. The good news for buyers is that it is still a great time to buy a home because interest rates for 30 year fixed are at an all time low. Even though you missed the $8000; a few months down the road you can still come out ahead because of lower prices and greater number of homes on the market. If you act now, you may be able to save far more than $8000 over the period of the loan.
